No-Load Life Insurance

Definition

• A form of life insurance where no commissions are paid to the selling agent. Due to the lack of commissions, fees and expenses for no-load life insurance, also known as "low load life insurance", are generally lower than the fees paid on other types of life insurance.

Synonyms
no commission life insurance

Related Terms and Acronyms

• Commission (comm) — Abbreviation,
  • A fee paid to a salesperson for selling a product to a customer.
  • An agent's fee for negotiating a real estate or mortgage loan transaction, often expressed as a percentage of the selling price.
• Finder Fee — Definition,
  • A fee paid by a party to another for services rendered.
• Insurance Broker — Definition,
  • An agent who sells insurance policies.